.Nexo has acquired a minority stake in Summit National Bank, a financial institution regulated by the USOCC. By JamieCrawleyCD
Cryptocurrency lender Nexo has acquired a minority stake in Summit National Bank, a financial institution regulated by the Office of the Comptroller of the Currency .
The deal will enable Nexo to open bank accounts with Summit National Bank as well as enhancing its lending and card products,Nexo can now expand its presence in the U.S. while building out its crypto products within a federally-regulated environment.in the form of its yield-bearing account which pays interest for crypto deposits.
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